Stop Cash Shrink

At its August 10, 2017 meeting, the Cannabis Banking Working Group convened by State Treasurer John Chiang discussed the possibility of establishing a state public bank.

California Lieutenant Governor Gavin Newsom was one of the first to suggest the idea. The bank would exist, in part, to offer financial services and business loans to licensed cannabis businesses throughout the state.

Though the idea is a potential solution to the cannabis cash conundrum, it is not without flaws.